UK Economics Weekly Pension funds hit by fall in bond yields While the drop in bond yields in recent months has been a generally welcome development, it does have its disadvantages, as highlighted by last week’s figures on company pension schemes. But last week... 16th January 2012 · 1 min read
Commodities Update Corn prices yet to find their floor The benchmark corn future in the US has already fallen by 50 cents to just over 600 cents per bushel after the world agricultural supply and demand report published yesterday by the US Department of... 13th January 2012 · 1 min read
Canada Data Response International Merchandise Trade (Nov.) November's modest rebound in exports reflected more strongly the recovery in Canadian auto production and better US industrial activity. While exports rebounded, imports fell, with the trade deficit... 13th January 2012 · 1 min read
US Data Response International Trade (Nov.) The widening in the trade deficit in November to a 10-month high is perhaps the first real sign that the crisis in Europe and the more general global slowdown is starting to take its toll on the US. 13th January 2012 · 1 min read
UK Data Response Producer Prices (Dec.) A sharp drop in both input and output price inflation in December had always looked likely, given the sharp rise in prices a year ago. Nonetheless, today’s figures confirmed that disinflationary... 13th January 2012 · 1 min read
Latin America Economics Update Chile cuts interest rates as growth cools The Central Bank of Chile (CBC) trimmed its benchmark interest rate by 25bps to 5.0% last night following recent signs of a slowdown in growth. By contrast, Peru’s strong consumer activity and rising... 13th January 2012 · 1 min read
US Housing Market Chart Pack Activity showing first signs of improvement The magnitude of the decline in existing home sales since the start of the housing market crash has been revised up significantly, but sales now appear to be rebounding as banks begin to lend more... 13th January 2012 · 1 min read
Asia Economic Outlook Policy stimulus to support growth in Asia The ongoing debt crisis in the euro-zone is likely to weigh on growth in Asia in 2012-13. Although the region’s most open economies are set to slow quite sharply, we forecast that growth in the region... 12th January 2012 · 1 min read
Commodities Update Three Iran scenarios for the oil price The main driver of global oil prices so far this year has been concern about the potential disruption to supplies from the Middle East as a result of tensions with Iran. This Update looks at three... 12th January 2012 · 1 min read
Middle East & North Africa Economics Update IMF will need to address Egypt's external funding problems The Egyptian government’s decision to resume negotiations with the IMF is good news. The proposed $3 billion facility would help plug a gaping hole in the budget. But it would not be sufficient to... 12th January 2012 · 1 min read
US Data Response Retail Sales (Dec.) December’s disappointing retail sales figures suggest it was not a happy holiday season for retailers. For the fourth quarter as a whole, our calculations now suggest that real consumption increased... 12th January 2012 · 1 min read
Europe Economics Update ECB stands firm on bond purchases The ECB today maintained both the level of official interest rates and its opposition to calls for it to take more decisive action to tackle the euro-zone’s debt crisis. 12th January 2012 · 1 min read
Latin America Economics Update Brazil: Retail strength unlikely to offset industrial weakness Brazilian retail sales grew by far more than expected in November. But the strong performance is unlikely to have prevented the economy from slipping into a mild recession in the second half of last... 12th January 2012 · 1 min read
Emerging Europe Economics Update How great are contagion risks from Hungary? The recent sell-off in Hungarian assets has turned the spotlight on other Emerging European assets. Even though any contagion risks are likely to be limited, 2012 promises to be a tough year for the... 12th January 2012 · 1 min read
Asia Economics Update Inflation risks are a concern in Indonesia Bank Indonesia (BI), kept its reference rate on hold today, as expected, after cutting rates by a cumulative 75bp in the final quarter of 2011. Despite the likelihood that inflation will accelerate... 12th January 2012 · 1 min read
